SSRI to sell PVG shares
Pretivm Announces Secondary Offering (ccnm)
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 23, 2011) -
Pretium Resources Inc. (TSX:PVG) ("Pretivm") announces today that it has filed a preliminary short-form prospectus with the securities regulatory authorities in each of the provinces and territories of Canada (other than Quebec) with respect to a secondary offering (the "Secondary Offering") by its principal shareholder, Silver Standard Resources Inc. ("Silver Standard"). The Secondary Offering contemplates the distribution of units of Pretivm. Each unit will consist of one common share of Pretivm owned by Silver Standard and one-half of one common share purchase warrant of Pretivm, with each whole warrant exercisable to purchase one common share of Pretivm owned by Silver Standard.
The Secondary Offering will be undertaken on a marketed basis by a syndicate of underwriters jointly led by CIBC World Markets Inc., Citigroup Global Markets Canada Inc. and UBS Securities Canada Inc. (together, the "Underwriters").
In addition, the Underwriters will be granted an overallotment option, exercisable for a period of 30 days from closing of the Secondary Offering, to purchase up to an additional number of units as is equal to 15% of the number of units sold under the Secondary Offering.
It is not intended that Pretivm will issue any common shares or receive any proceeds from the Secondary Offering.
Closing of the offering is expected to occur in early April 2011 and is subject to certain conditions, including the approval of the Canadian securities regulatory authorities.
The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to United States persons absent registration or any applicable exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This release shall not constitute an offer to sell, or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
AI
